LONDON--(BUSINESS WIRE)--Allegro Development Corporation has announced today that E.ON has chosen the Allegro 8 platform to support its retail business in Spain. E.ON España will use Allegro’s enterprise class software to manage its power and natural gas positions, the complexities of the Spanish power market, the impending regulatory changes and the volatility of the energy trading market.
E.ON España, which distributes around 6.8 TWh to more than 650,000 customers, is looking for significant improvements in their portfolio visibility, which will lead to more effective decisions regarding price, counterparty and liquidity exposure management and hedging strategies.
The Allegro implementation will be led by Indra, chosen by E.ON España for their expertise and knowledge of the Spanish power and gas markets, as well as their knowledge of Allegro.
“With increasing complexity in local power and gas markets, shifting regulations and volatile energy trading markets, we needed a strategic partnership to help us support and automate the process related to energy management,” says Javier Anzola, General Director of Liberalized Markets at E.ON España. “This is why we chose to select Allegro's software combined with Indra's market knowledge and implementation expertise," he continues.
Allegro will support E.ON España with the following benefits:
- The ability to manage its power and natural gas portfolios and respective changes in demand
- A fully integrated solution with E.ON’s demand forecasting and pricing tools, enabling a real-time view of the portfolio exposure for hedging purposes and compliance
- A scalable solution that captures supply and demand forecasts, hedges and price curves and provides settlement and risk management functionality with KPI reporting tools that can be accessed remotely via a web browser
About E.ON Spain
E.ON Spain is a company owned by Macquarie European Infrastructure Fund 4 (MEIF4) and Wren House Infrastructure (WHI) since 25th March 2015. The company expects to unveil its new brand during the second quarter of this year.
With a team of 1,150 professionals, E.ON Spain operates in the regulated power distribution markets in Spain and in the liberalized power generation and power and gas supply markets.
E.ON Spain distributes electricity through a grid spanning 32,000 kilometers and sells power to over 650,000 customers. The company also has 4,000 MW of conventional and renewable generation capacity across Spain and Portugal.
About Allegro Development
Allegro is a leading provider of commodity risk management software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. With EMEA headquarters in London, Allegro has offices in Zurich, Dallas, Calgary, Houston, Singapore and Sydney, along with a global network of partners. For more information please visit www.allegrodev.com.